Nakilat Posts Record Net Profit of $270M
Doha-listed LNG and LPG carrier owner Qatar Gas Transport Company Ltd (Nakilat) reported a consolidated net profit of QR1,003m (USD $270 million) in 2019, an increase of 12.4 percent, as compared to QR892m posted for the same period in 2018.The 2019 net profit is Nakilat’s highest profit recorded since its inception, said the Qatari shipping and maritime company.Nakilat's robust financial performance is primarily attributed to operational excellence in the management of its Liquefied Natural Gas (LNG) and Liquefied Petroleum Gas (LPG) vessels, as well as realizing additional revenues from the two additional LNG carriers, one Floating…
Milaha Ups Stake in Nakilat
Qatar-based maritime transport and logistics company Qatar Navigation (Milaha) has increased the company’s stake in compatriot liquefied natural gas (LNG) shipping giant Nakilat.Qatar Shipping Company, a subsidiary of Milaha, has entered into an agreement for acquiring the entire stake of Qatar Investment Authority in Qatar Gas Transport Company Ltd (Nakilat) representing 5.9% of Nakilat’s share capital.The Sale and Purchase Agreement was conditional on obtaining the consent of the Qatar Financial Markets Authority and the Qatar Central Securities Depositary Company.Abdulrahman Essa Al-Mannai, President and CEO of Milaha Group, announced that Milaha was holding…
Nakilat Damen Shipyards Qatar JV is 5
On 23 November 2015, Nakilat Damen Shipyards Qatar celebrated its first 5 years of operation. With 40 vessels delivered or under construction, the yard has proven its capability to support Qatar’s national strategy for economic diversification. Damen Chief Commercial Officer Arnout Damen. NDSQ was established in 2010 as a joint venture between Qatar Gas Transport Company Ltd. (Nakilat) and Damen Shipyards Group. Located in the northeastern corner of Qatar, the yard is ideally positioned in the middle of the Arabian Gulf and able to build ships up to 170 metres in length in steel, aluminium and composites. By building these vessels in Qatar, Mr Damen says that NDSQ is supporting the economic diversification and development strategy in the Qatar National Vision 2030.
Alewijnse Establishes Operations in Qatar
Alewijnse Marine Systems, a systems integrator in the commercial, naval and superyacht sectors, announced the formation of Alewijnse Middle East LLC, the latest stage in its strategy to establish operations in high growth developing markets. Based in Qatar, Alewijnse Middle East (AME) is a partnership between Alewijnse Marine Galati, headquartered in Galati, Romania, and Sora Marine Services, a highly regarded Qatari company with extensive experience in providing maritime services.
Nakilat, Damen Shipyards Join Forces
Qatar Gas Transport Company Ltd. (NAKILAT) has signed a joint venture agreement with Damen Shipyards Qatar Holding B.V., a wholly owned subsidiary of Damen Shipyards Group, to jointly operate a shipbuilding facility in the Port of Ras Laffan, Qatar. His Excellency Abdullah bin Hamad Al-Attiyah, Deputy Prime Minister and Minister of Energy and Industry, and Chairman of the Board of Directors of Nakilat, said: “Our vision is for the new shipyard to become a centre of excellence…
Shell to Manage Nakilat’s LNG Fleet
Qatar Gas Transport Company Ltd (Nakilat) has appointed Shell International Trading and Shipping Company Limited (Shell) to manage its fleet of at least 27 new LNG carriers in a 25-year deal. Under this arrangement it is expected that Operational Management will be transferred to Nakilat within 12 years. The agreement will involve Shell providing a range of shipping services to Nakilat including ship management as well as the transfer of know how and expertise to allow Nakilat to develop its own LNG Ship Management Company in Qatar, a news release said. This new fleet of LNG vessels, currently under construction, will be put into service over the next four years to transport product from four of Qatar's major LNG projects: Qatargas II (Train 5)…
QGTC Awarded Charters for Six LNG Carriers
Qatar Gas Transport Company Ltd. (Nakilat) announced that it has been awarded 25 year time charters by Qatar Liquefied Gas Company Limited (II), (QGII) for six 'QMax' LNG carriers of approximately 265,000 cubic meters carrying capacity each. These will be the largest LNG carriers ever constructed. According to AME Info, the ships will be ordered from Korean shipyards Daewoo Shipbuilding and Marine Engineering and Samsung Heavy Industries. QGII intends to use the vessels to transport LNG from its train numbers 4 and 5, which will each have a production of 7.8 million tons/year. The vessels- once delivered from the shipyards- will be placed on long term charter to QGII beginning mid-2008, and their delivered cost will be approximately $300 million each.
